NSE: CHEMCRUX · BSE: 540395
CHEMCRUX ENTERPRISES LTD.
Manufactures specialty chemicals from India, with operating activity concentrated through wholly-owned subsidiary Kalichem Private Limited, which runs a manufacturing facility in Vadodara, Gujarat. Kalichem commenced commercial production in November 2024 and became a wholly-owned subsidiary in February 2025. In May 2026, Kalichem filed a Consent to Establish amendment with the Gujarat Pollution Control Board to add various inorganic chemicals to the Vadodara plant as part of a diversification into the inorganic chemicals sector. The parent has also incorporated a non-profit Section 8 subsidiary, Chemcrux Foundation, to handle CSR activities. In FY26, standalone revenue from operations was Rs 8,257.92 lakh (up 17.5% YoY from Rs 7,025.39 lakh), with standalone profit after tax of Rs 544.97 lakh (up 30.1% YoY). Consolidated FY26 revenue was Rs 8,064.64 lakh with consolidated PAT of Rs 373.08 lakh, lower than standalone because of losses at the Kalichem subsidiary. The Board recommended a 10% dividend (Rs 1 per equity share of Rs 10 face value), subject to shareholder approval. Raw materials are the largest cost line at 35.1% of revenue (Rs 28.33 crore), followed by other operating expenses at 33.9% (Rs 27.34 crore) and employee costs at 11.9% (Rs 9.63 crore). Depreciation was 5.9% of revenue and capex for the year was Rs 5.15 crore. AR · MarketPing reader · 2026-08-03
Exhibit 1: Financial summary, FY24–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | 78 | 70 | 81 |
| EBITDA (ex other income) | 13 | 9 | 11 |
| margin % | 16.8 | 13.2 | 13.8 |
| Owners' profit | 8 | 0 | 4 |
| EPS, as reported (₹) | 5.70 | 2.64 | 2.52 |
| ROE % · ROCE % | 11.7 · 12.7 | 5.2 · 7.0 | 4.9 · 8.2 |
| Debt / equity (x) | 0.35 | 0.56 | 0.44 |
| Cash from operations | 17 | 8 | 14 |
| Capex | (24) | (8) | (5) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 17 | 18 | 19 | 16 | 17 | 18 | 22 | 24 |
| Profit before tax | 2 | 2 | 2 | 1 | 0 | 0 | 2 | 3 |
| Net profit | 1 | 1 | 1 | 0 | 0 | 0 | 2 | 2 |
| EPS (₹) | 0.84 | 0.77 | 0.89 | 0.14 | 0.06 | 0.14 | 1.06 | 1.25 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| PIDILITE INDUSTRIES LTD | 1,42,095 | 53.6 | 12.86 | 37.6 | 22.4 | 28.0 | 14.9 | 28.6 |
| SRF LTD | 69,659 | 32.2 | 4.96 | 21.6 | 13.1 | 13.1 | 13.4 | 25.2 |
| GUJARAT FLUOROCHEM LTD | 47,075 | 76.8 | 5.95 | 37.4 | 7.3 | 8.7 | 13.5 | 27.7 |
| NAVIN FLUORINE INT. LTD | 43,610 | 55.1 | 10.97 | 39.3 | 16.7 | 16.4 | 23.0 | 37.5 |
| AETHER INDUSTRIES LIMITED | 20,905 | 88.6 | 8.51 | 56.8 | 8.9 | 11.4 | — | 33.8 |
| DEEPAK NITRITE LTD | 20,257 | 25.9 | 3.45 | 21.0 | 9.4 | 10.2 | 12.6 | 21.5 |
| AARTI INDUSTRIES LTD | 15,871 | 29.9 | 2.67 | 17.1 | 7.0 | 4.4 | 13.0 | 16.2 |
| FINE ORGANIC IND. LTD. | 15,604 | 35.6 | 5.86 | 25.5 | 15.7 | 20.0 | 15.9 | 28.8 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 32.3 | 23.1 | 66 of 99 | 34% |
| P/B | 1.6 | 2.8 | 27 of 99 | 72% |
| ROCE | 5.1 | 10.1 | 74 of 106 | 31% |
| ROE | 4.8 | 8.1 | 71 of 99 | 29% |
| Debt / Equity | 0.4 | 0.2 | 76 of 99 | 24% |
| EBITDA margin | 18.7 | 15.5 | 39 of 99 | 61% |
| Revenue growth | 54.4 | 24.4 | 15 of 94 | 85% |
| Profit growth | 796.5 | 55.1 | 6 of 92 | 95% |
| Market cap | 120 | 699 | 81 of 108 | 25% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 26 Oct 2026 · Board to review Q2 and H1 FY2026-27 results on 2 November | results | low | — | — |
| 6 Oct 2026 · Reg 74(5) Depository Certificate Filed For Sep 2026 Quarter | compliance | minimal | — | — |
| 28 Sept 2026 · Trading Window Closure from 1 October 2026 | compliance | minimal | — | — |
| 18 Sept 2026 · Regularisation of Independent Director appointment at 30th AGM | management changes | medium | — | — |
| 18 Sept 2026 · All 6 resolutions passed at 30th AGM including 10% dividend | board shareholder meetings | low | — | — |
| 17 Sept 2026 · Chemcrux 30th AGM: Rs 1 final dividend declared, director remuneration approved | board shareholder meetings | low | — | — |
| 24 Aug 2026 · AGM notice and annual report weblink shared with shareholders | compliance | minimal | — | — |
| 24 Aug 2026 · TDS communication on final dividend of Re. 1 per share for FY26 | corporate actions | medium | — | — |
| 24 Aug 2026 · Two Independent Directors cease upon completing their tenure | management changes | medium | — | — |
| 22 Aug 2026 · Newspaper publication of 30th AGM notice with e-voting and book closure details | compliance | minimal | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.